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Global Business > Tutorial 7 > Flashcards

Tutorial 7 Flashcards

1
Q

Chapter 11

direct exports

A

The sale of products made by firms in their home country to customers in other countries.

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2
Q

Chapter 11

fob(free on board)

A

Contract clause: the seller has to deliver goods free on board of a ship or train.

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3
Q

Chapter 11

cif(cost of insurance and freight)

A

Contract clause: the seller has to pay all transportation costs to a destination port.

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4
Q

Chapter 11

bill of lading(B/L)

A

Document certifying the delivery of the goods to a ship or train.

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5
Q

Chapter 11

letter of credit

A

A financial contract that states that the importer’s bank will pay a specific sum of money to the exporter upon delivery of the merchandise.

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6
Q

Chapter 11

indirect exports

A

A way for SMEs to reach overseas customers by exporting through domestic- based export intermediaries.

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7
Q

Chapter 11

export intermediaries

A

A firm that performs an important intermediary function by linking sellers and buyers overseas.

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8
Q

Chapter 11

distributors

A

Intermediaries trading on their own account.

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9
Q

Chapter 11

cross border services

A

Supplying services across national borders.

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10
Q

Chapter 11

servicing foreign residents

A

Supplying services to customers coming from abroad.

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11
Q

Chapter 11

licensing

A

A contract by which a firm allows another firm to use its intellectual property rights in return for a fee

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12
Q

Chapter 11

franchising

A

A contract by which a firm allows another firm to
use its branded service or products in return for a fee.

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13
Q

Chapter 11

turnkey projects

A

Projects in which clients pay contractors to design and construct new facilities and train personnel.

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14
Q

Chapter 11

design and built contract

A

A contract combining the architectural or design work with the actual construction.

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15
Q

Chapter 11

built operate transfer

A

A contract combining the construction and temporary operation of a project eventually to be transferred to a new owner.

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16
Q

Chapter 11

tender

A

A competition for a major contract.

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17
Q

Chapter 11

consortium

A

A project-based temporary business owned and managed jointly by several firms.

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18
Q

Chapter 11

subcontracting

A

A contract that involves outsourcing of an intermediate stage of a value chain.

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19
Q

Chapter 11

management contract

A

A contract over the management of assets or a firm owned by someone else.

20
Q

Chapter 11

experiential knowledge

A

Knowledge learned by engaging in the activity and context.

21
Q

Chapter 11

Uppsala model

A

A model of internationalization processes focusing on learning processes.

22
Q

Chapter 11

network internationalization model

A

A model of internationalization that focuses on the international growth of business networks.

23
Q

Chapter 11

stages model

A

Models depicting internationalization as
a slow stage-by stage process an SME must go through.

24
Q

Chapter 11

international new venture

A

Start-up company that, from inception, seeks
to derive significant competitive advantages from the use of resources and the sale of outputs in multiple countries.

25
Q

Chapter 11

mimetic behaviour

A

Imitating the behaviour of others as a means to reduce uncertainty.

26
Q

Chapter 12

market seeking FDI

A

Investors’ quest to go after countries that offer strong demand for their products and services.

27
Q

Chapter 12

natural resource seeking FDI

A

Investors’ quest to pursue natural resources in certain locations.

28
Q

Chapter 12

efficiency enhancing FDI

A

Investors’ quest to single out the most efficient locations for each value chain activity.

29
Q

Chapter 12

capability enhacing FDI

A

Investors’ quest for new ideas and technologies to upgrade their own technological and managerial capabilities.

30
Q

Chapter 12

location specififc advantage

A

Advantages that can be exploited by those present at a location.

31
Q

Chapter 12

first mover advantage

A

Advantages that first movers obtain and that later movers do not enjoy.

32
Q

Chapter 12

late mover advantage

A

Advantages that late movers obtain and that first movers do not enjoy.

33
Q

Chapter 12

modes of entry

A

The format of foreign market entry.

34
Q

Chapter 12

non equity modes

A

A mode of entry that does not involve owning equity in a local firm.

35
Q

Chapter 12

equity modes

A

A mode of entry (JV that involves taking full or partial) equity ownership in a local firm.

36
Q

Chapter 12

wholly owned subsidiary

A

A subsidiary located in
a foreign country that is entirely owned by the parent multinational.

37
Q

Chapter 12

greenfield investemnts

A

Building factories and offices from scratch.

38
Q

Chapter 12

acquisition

A

The transfer of the control of operations and management from one firm (target) to another (acquirer), the former becoming a unit of the latter.

39
Q

Chapter 12

partial acquistion

A

Acquisitions of an equity stake in another firm.

40
Q

Chapter 12

strategic alliance

A

Collaboration between independent firms using equity modes, non-equity contractual agreements, or both.

41
Q

Chapter 12

scale of entry

A

The amount of resources committed to foreign market entry.

42
Q

Chapter 12

platform investement

A

An investment that provides a small foothold in a market or location

43
Q

Chapter 12

brownfield acquisition

A

Acquisition where subsequent investment overlays the acquired organization.

44
Q

Chapter 12

multiple acquisition

A

A strategy based on acquiring and integrating multiple businesses.

45
Q

Chapter 12

staged acquisition

A

Acquisitions where ownership transfer takes place over stages.

Global Business (8 decks)

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